OKX Wallet proposes to create BRC-30 tokens to develop the Bitcoin ecosystem

OKX Wallet, one of the first notable supporters of the Bitcoin Ordinals movement, announced about the launch of the BRC-30 initiative, an improved version of the BRC-20 protocol that adds capital transaction features such as deposit, minting and withdrawal. According to the initiative, the staking feature will allow holders of BRC-20 tokens to earn passive income.

BRC-30 tokens are an extension of the BRC-20 functionality, including the staking protocol. Holders of BRC-20 tokens will be able to use their digital assets to earn passive income without selling them, actively interact with the Bitcoin network and increase the potential value of their tokens. To receive BRC-30 tokens, users must stake BRC-20 tokens or Bitcoin in a special staking pool.

According to OKX Wallet, the launch of new tokens and staking features provides BRC-20 token holders with new options for interacting with their digital assets and generating passive income. In addition, staking incentivizes users to hold assets, reducing market pressure to sell and contributing to the stability of the ecosystem.

OKX Wallet is the first multi-chain wallet to support the Lightning Network, which enables faster bitcoin transactions with lower fees.

OKX (formerly known as OKEx) is a Seychelles-headquartered cryptocurrency exchange that serves millions of customers worldwide in over 180 regions. The exchange offers basic trading services, including spot and simple options, as well as derivatives, including margin trading, futures, and options. It was founded by Star Xu in 2017.

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